This study examines the relationship between carbon policy risk and corporate capital structure in China. Using a sample of A-share listed firms from 1997 to 2018, we find that carbon policy risk reduces firms’ financial leverage. The result is robust to the introduction of...

Using the firm-level data over 1989-2012 from 53 countries, we find religiosity in a country is positively associated with trade credit use by local firms. Specifically, after controlling for firm- and country-level factors as well as industry and year effects, we show that trade credit use is...

While voluminous research has focused on the impact of host country institutions on foreign entrants, the rise of outward internationalization of firms from emerging economies is challenging this research stream. Limited work has been done to investigate a crucial question: How do home country...

We examine the effect of media competition on analyst forecast properties in an international setting using 113,436 firm-year observations from 32 countries spanning 2000 through 2012. We find that firms in countries with stronger media competition enjoy more accurate, less optimistically...

This study examines the effects of major board reforms on firms’ corporate social responsibility (CSR) performance in countries around the world. Using a difference-in-differences design, we find robust evidence that worldwide board reforms can have significant effects on various stakeholders,...

This study examines whether and how the practice of providing CSR information in the management discussion and analysis (MD&A) section of annual reports affects the relation between CSR performance and firm value in an international context. Based on a large sample from 42 countries, our results...